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Global Wagyu Beef Market – Industry Trends and Forecast to 2031

Food & Beverage

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Global Wagyu Beef Market – Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Report
  • Mar 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Wagyu Beef Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 2.51 USD Billion
Diagram Market Size (Forecast Year) USD 4.06 USD Billion
Diagram CAGR %

Major Markets Players

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Global Wagyu Beef Market, By Product Type (Japanese Breed, Australian Breed, Cross Breed, and Others), Applications (Direct to Human Use and Industrial Use), Grade (Grade A, Grade B, and Grade C), Nature (Organic and Conventional), Distribution Channels (Online and Retail), End Use (Foodservice Channels and Retail Channel) – Industry Trends and Forecast to 2031.

Wagyu Beef Market

Wagyu Beef Market Analysis and Size

In the Wagyu beef market, premium-grade cuts are favored for gourmet dining, enhancing culinary experiences in upscale restaurants worldwide. Beyond fine dining, Wagyu beef finds applications in high-end culinary events, exclusive catering, and luxury food products. Its unmatched marbling and tenderness redefine gastronomic standards, captivating discerning consumers globally.

Data Bridge Market Research analyses that the global Wagyu beef market, which was USD 2.51 billion in 2023, is expected to reach USD 4.06 billion by 2031, at a CAGR of 6.2% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation      

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Japanese Breed, Australian Breed, Cross Breed, and Others), Applications (Direct To Human Use and Industrial Use), Grade (Grade A, Grade B, and Grade C), Nature (Organic and Conventional), Distribution Channels (Online and Retail), End Use (Foodservice Channels and Retail Channel)

Countries Covered

U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa

Market Players Covered

Black Hawk Farms (U.S.), AUSTRALIAN AGRICULTURAL COMPANY LIMITED (Australia), Starzen Co., Ltd. (Japan),  Imperial Wagyu Beef, LLC (U.S.), Toriyama Umami Wagyu (Japan), Mishima Reserve (U.S.), Snake River Farms (U.S.), Blackmore Wagyu (U.S.),Lone Mountain Cattle Company (U.S.), K.C. Cattle Company (U.S.), Nebraska Star Beef (U.S.), Middle East Fuji L.L.C. (U.A.E), Tajimaya UK ltd. (U.K.), Holy Grail Steak Co. (U.S.), DEBRAGGA INC. (U.S.), Chicago Steak Company (U.S.), Creek Bed Farmacy (U.S.), The Butcher's Market (U.S.), and West Coast Prime Meat (U.S.)

Market Opportunities

  • Increasing Investments in Genetic Improvement
  • Growing Celebrity Endorsements and Media Exposure

Market Definition

Wagyu beef is a highly prized Japanese beef known for its exceptional marbling, tenderness, and rich flavor. It comes from four Japanese cattle breeds, revered for their genetic predisposition to produce intensely marbled meat. Wagyu beef is sought after worldwide for its unparalleled taste and melt-in-your-mouth texture.

Global Wagyu Beef Market Dynamics

Drivers

  • Growing Demand for Premium Products

The Wagyu beef market thrives on surging global demand for gourmet delicacies. Consumers eagerly pay a premium for Wagyu's unparalleled taste, tenderness, and exquisite marbling. This growing preference for high-quality, luxurious food experiences continues to propel the market forward, driving producers and distributors to meet the increasing appetite for Wagyu beef worldwide.

  • Growing Health Consciousness Among Consumer

Consumers, prioritizing health, favor leaner meats. Wagyu beef's higher proportion of unsaturated fats than other beef types aligns with this trend, elevating its appeal. Perceived as a healthier option, Wagyu's demand surges as health-conscious individuals seek premium, flavorful choices without compromising dietary goals, contributing to its market growth.

Opportunities

  • Increasing Investments in Genetic Improvement

Continual investments in Wagyu breeding programs and genetic enhancement technologies are elevating the quality and consistency of Wagyu beef. These advancements guarantee a reliable production of premium-grade wagyu, meeting the rising market demand for this coveted, high-quality meat.

  • Growing Celebrity Endorsements and Media Exposure

Celebrity endorsements, food influencers, and media exposure have propelled Wagyu beef into the spotlight, increasing consumer curiosity and demand. This heightened awareness has positively impacted both retail and food service sectors, as more people seek out the unique taste and quality associated with Wagyu beef, driven by its celebrity-endorsed appeal.

Restraints/Challenges

  • Limited Supply Impact the Market Growth

The limited supply of Wagyu beef, sourced from specific Japanese breeds or adhering to strict guidelines elsewhere, poses challenges in meeting rising demand. This scarcity drives charges higher, hindering accessibility to a broader market. Maintaining quality while expanding production to meet demand remains a critical balancing act for the Wagyu beef industry.    

  • High Cost of Wagyu Beef

The exceptional quality and marbling of Wagyu beef contribute to its high price, restricting access for many consumers. This premium pricing model poses a challenge in widening its market reach, potentially limiting its consumption to those willing to pay the premium for its renowned taste and texture.

This global Wagyu beef market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global Wagyu beef market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In 2022, the launch of the Blackmore Wagyu tomahawk steak by Matilda 159 Domain in the U.S. boosts the Wagyu beef market, sparking consumer interest and positive word of mouth, highlighting the allure of premium Wagyu offerings
  • In 2022, Australia's plan to establish a new wagyu beef farm in Queensland strengthens the global Wagyu beef market, leveraging the country's renowned beef production expertise and favorable climate to meet rising demand and solidify its position as a key player
  • In 2021, South Korea's launch of a certification program for Wagyu beef enhances the Wagyu beef market by ensuring consistent quality standards, reinforcing the sector's reputation for excellence, and providing consumers with assurance and access to premium Wagyu cuts
  • In 2021, Blackmore Wagyu's launch of a new grass-fed breed in Australia responds to market demand, expanding opportunities in the wagyu beef market by catering to the preferences of fine dining establishments and driving sales growth in the premium beef segment

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Wagyu Beef Market Scope

The global wagyu beef market is segmented on the basis of product type, applications, grade, nature, end use,, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Japanese Breed
  • Australian Breed
  • Cross Breed
  • Others
    • Fullblood
    • Purebred

Applications

  • Direct To Human Use
  • Industrial Use

 Grade

  • Grade A
  • Grade B
  • Grade C

 Nature

  • Organic
  • Conventional

 Distribution Channels

  • Online
  • Retail

 End Use

  • Foodservice Channels
  • Retail Channel

Global Wagyu Beef Market Regional Analysis/Insights

The global Wagyu beef market is analyzed and market size insights and trends are provided by country, product type, applications, grade, nature, end use, and distribution channel as referenced above.

The countries covered in the global Wagyu beef market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.

Asia-Pacific is expected to dominate the market, propelled by Japan's significant production and consumption. With 80% of its population regularly enjoying Wagyu, Japan employs extensive promotional efforts, particularly as the food service sector expands, ensuring widespread reach and strengthening sales value.

North America is expected to grow in the market, propelled by the U.S. and Canada's status as leading exporters. Their robust production capabilities are poised to drive rapid expansion during the forecast period.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Wagyu Beef Market Share Analysis

The global Wagyu beef market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global Wagyu beef market.

Some of the major players operating in the global Wagyu beef market are:

  • Black Hawk Farms (U.S.)
  •  AUSTRALIAN AGRICULTURAL COMPANY LIMITED (Australia)
  •  Starzen Co., Ltd. (Japan)
  •   Imperial Wagyu Beef, LLC (U.S.)
  •  Toriyama Umami Wagyu (Japan)
  •  Mishima Reserve (U.S.)
  •  Snake River Farms (U.S.)
  •  Blackmore Wagyu (U.S.)
  • Lone Mountain Cattle Company (U.S.)
  •  K.C. Cattle Company (U.S.)
  •  Nebraska Star Beef (U.S.)
  •  Middle East Fuji L.L.C. (U.A.E)
  •  Tajimaya UK ltd. (U.K.)
  •  Holy Grail Steak Co. (U.S.)
  •  DEBRAGGA INC. (U.S.)
  • Chicago Steak Company (U.S.)
  •  Creek Bed Farmacy (U.S.)
  •  The Butcher's Market (U.S.)
  •  West Coast Prime Meats (U.S.)


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FREQUENTLY ASK QUESTIONS

Various health benefits associated with the consumption of wagyu beef & the growing trend of exotic meals and the high prevalence of five-star restaurants are the growth drivers of the wagyu beef market.
Nature, product type, applications, and distribution channels are the factors on which the wagyu beef market research is based.
Major companies in the wagyu beef market are Black Hawk Farms (U.S.), Australian Agricultural Company Limited (Australia), Starzen Co., Ltd. (Japan), Imperial Wagyu Beef (U.S.), Toriyama Umami Wagyu (Japan), Mishima Reserve (U.S.), Snake River Farms (U.S.), Blackmore Wagyu (U.S.), Lone Mountain Cattle Company (U.S.), K.C. Cattle Company (U.S.), Nebraska Star Beef (U.S.), Middle East Fuji L.L.C. (UAE), Tajimaya UK ltd. (U.K.), Holy Grail Steak Co. (U.S.), DeBragga and Spitler (U.S.), Chicago Steak Company (U.S.), Creek Bed Country Farmacy, L.L.C. (U.S.), The Butcher's Market (U.S.), West Coast Prime Meat (U.S.)
The Wagyu Beef Market size will be worth USD 4.06 billion by 2031 during the forecast period.
The Wagyu Beef Market growth rate is 6.2% during the forecast period.
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